Ideas and analysis on money, markets and the world around us.
In his press conference following the FOMC meeting at which the Fed Funds Rate was left unchanged, Chairman Powell spoke about the slowing of economic activity due to restrictive territory for interest rates. This…
Read the articleThe sharp decline in US Treasury bond yields anticipates a pivot in Fed policy, which appeared to be justified this week by Chairman Powell’s dovish tone. But in truth, the Fed is not in control of events. Given that it…
Read the articleIn the Far East on Monday, gold spiked up to $2146 and silver to $$25.90, when it was 18.30 EST on Sunday. It was short-lived, and a lack of follow through and profit taking rapidly took gold and silver back to below…
Read the articleFlying money was the Chinese term for paper credits between merchants in the Tang dynasty, adopted by Emperor Hien-Tsung as the first example of a government paper currency. Today, economists confuse flying money with…
Read the articleNo one is talking about the US trade deficit in the current fiscal year, but it is likely to be another record, bringing with it new rounds of trade sanctions and protectionism. In this article, I explain why the twin…
Read the articleGold and silver continued to rise this week, with gold bursting through the $2000 level, and silver $25. In European trade this morning, gold was $2042, up $42 from last Friday’s close, and silver was $25.20, up 93…
Read the articleAhead of a possible challenge on the $2000 level, gold consolidated recent rises this week, and silver held up well. This morning in European trade, gold was $1995, up $15 from last Friday’s close, and silver was…
Read the articleThis article concludes that the current downturn in bond yields is part of a continuing market manipulation by central banks in order to restore confidence in the global economic outlook. There is a long history of…
Read the articleThe technical position for gold is looking very positive for higher prices. But technical analysis should be backed by fundamentals. To a large extent fundamentals are in the eye of the beholder, whose opinions in any…
Read the articleThis week, gold and silver extended their correction of October’s sharp rise. In European trade this morning, gold was $1953, down $24 from Last Friday, and silver was $22.54, down 66 cents. Comex volume in both…
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